$1.2bn Turkish healthcare campus reaches financial close

The $1.2bn Etlik Integrated Healthcare Campus, a public-private partnership (PPP) project in Ankara, Turkey, has reached financial close.

UK consultant Mott MacDonald is acting as the lenders’ technical and environmental adviser, and will now provide construction and operational monitoring services.

Etlik will be one of the world’s largest hospital campuses once constructed, providing over 3,500 beds across more than 1 million square metres.

The complex, which will be made up of a main core structure and six towers, will consist of a general hospital with multiple specialist units as well as a dedicated area for diagnosis and treatment.

Mott MacDonald’s due diligence during the project’s financing stage included reviewing potential technical issues and commercial implications arising from the project agreement and schedules.

The consultancy also appraised the stakeholders’ competence, track record and capabilities, as well as the design solution, construction planning, planned service delivery, capital and operating expenditure, lifecycle costing and the project’s payment mechanism.

Keith Mitchell, Mott MacDonald’s project director, added: "The sheer scale of this project and tight deadlines to deliver the financing and achieve financial close was a test of our due diligence expertise.

"However we overcame these challenges through excellent collaboration between our PPP transaction advisory experts in the UK and Turkey, who will now go on to lead our construction monitoring activities."

Construction of the Etlik Integrated Healthcare Campus is expected to take up to three-and-a-half years.

Images via Mott Macdonald’s twitter

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